People's interest in the crypto industry remains high despite small surges in the crypto market. The potential of the crypto industry is well known and has inspired many individuals and companies to start their own crypto exchange platforms. Crypto exchange platform development is one of the best ways to enter the lucrative crypto market. For a better understanding of the crypto trading platforms, let's discuss the types of crypto exchanges available.
Types of Crypto Trading Platforms
Peer-to-peer (P2P) trading is a method of crypto exchange without an intermediary. Buyers and sellers are directly connected to a dynamic pool of traders. When coordinated, two individuals can exchange without interfering with the transaction. The p2p model has various advantages. Buyers can acquire valuable crypto using P2P trading. Traders can use the order book model for trading. The order book offers multiple trading options, such as stop orders, limit orders, and market orders. While 99% of cryptocurrency exchanges are centralized, peer-to-peer exchanges are considered the best model for cryptocurrency trading today. Many new cryptocurrency exchanges use his P2P trading. Examples of P2P exchanges include Binance, Wazirx, and Luno.
OTC stands for Over Counter Trade and is similar to a peer-to-peer exchange. Transactions made on the OTC trading platform are private. Neither the OTC market nor the transactions that occurred are on the books. These are mostly bulk orders. Crypto is traded in bulk against fiat currency. Buyers may request bulk purchases or sales of cryptocurrencies at negotiated prices by contacting the OTC Administrator directly. A large number of OTC exchanges are popping up, giving way to high liquidity. With the idea of bulk crypto trading, OTC trading creates a huge revenue stream for the company. Examples of OTC trading include Coinbase, Kraken, etc.
Ad-based exchanges are also peer-to-peer exchanges. As the name suggests, sellers can advertise on action-based exchanges on various crypto exchange sites for a small fee. This facilitates the sale of crypto coins, and buyers who visit the site can choose the best deal and trade directly with the seller by sending money to the seller and the seller sending the crypto to the buyer. Examples of ad-based exchanges include LocalBitcoins, Remitano, Paxful, etc.
Where Can I Get The Best Cryptocurrency Exchange Platform Development Services?
Choosing the best crypto exchange platform development can be a time-consuming process. For this reason, screening by the crypto exchange development company is the basis. Choose an organization that has been in the crypto market for about five years. Check out our previous projects and customer reviews. Test the demo article as many times as possible. See if their demo meets your expectations. If yes, then you can proceed with the development of your cryptocurrency exchange.